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- 1 The stock has seen some recent downtrends but the bulls are not giving up as they are trying to break the resistance level.
- 2 The stock price is moving towards its first resistance and the 50 EMA is just above it to counter the bullish investors.
- 3 The MACD and RSI have given a neutral signal but it is likely to turn into a bullish signal.
The management of Kingfisher plc (LON: KGF) has announced that it will pay a dividend of £0.04 per share on November 17th. This charge will bring about a dividend yield of 5.6%, which is outstanding news for shareholders. The payout ratios for 2021 and 2022 were 0.3 and 0.52, respectively. It indicates that the payout ratio for this year is also expected to be around these values.
The Rollercoaster Ride of KGF Stock
The stock of Kingfisher started its downtrend after reaching its year-to-date high. In February, the KGF stock price showed bullish momentum as it broke its significant resistance of £269. However, the bears took control, and the price levels couldn’t sustain past this resistance.
The KGF stock changed its trend in November of 2022 after being on a bullish trend for some time, with both short-term investors and traders enjoying the upward rally. The KGF stock price has been moving up and down since May this year because buyers and sellers are struggling to agree on a fair price after a big change in the market. However, this trend soon came to an end as the stock broke its major support level of £250 at the end of May
Technical Analysis and Prediction of KGF stock price
The stock has been in a consolidation zone until recently when the bears broke a significant support level of £221. At present, the LKGF stock price is at the level of £222 after the bulls recovered from reclaiming the support of £206.
The stock price is just below the resistance level, and bullish candles are being formed. If the KGF stock price breaks out, it will likely reach its 2nd resistance of £238. Similarly, if the bears reclaim the immediate resistance, the price will go back to its first support of £20.
The indicators on the other hand are showing a chance of recovery as the stock has bounced off recently. The MACD line is on the level of -2.9, just below the neutral zone of zero. Whereas, the RSI line is in its neutral territory of 45, trying to above its neutral level of 50
Conclusion
Kingfisher PLC has announced dividends which made the price levels rise to a major resistance. The price prediction for KGF stock will be bullish if the bulls can break past the immediate resistance level. However, if the bears take control, it can reverse.
Technical Levels
Support:£206, and £191
Resistance: £224, and £238
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
